During
his speech at the meeting of the National Security and Defense Council of
Ukraine on 18 April 2019, YakivSmolii,
Governor of the National Bank of Ukraine (NBU), exerted no pressure on the
judges, showed no contempt for them, and did not call for anyone to disregard
the rulings of the District Administrative Court of Kyiv that overturned the
NBU’s decision to nationalize PrivatBank.

This is according
to the findings of the semantics and text examination of the speech that was conducted by the Ukrainian Center for Forensic
Examination based on the NSDC meeting’s transcript.

In particular, the
examination answered three main questions regarding MrSmolii’s speech at the NSDC meeting on 18 April 2019:

1.What is the objective
meaning of the statements made by the NBU Governor?

The forensic
expert has concluded that YakivSmolii,
during his speech, briefed the meeting’s participants on PrivatBank’s
activities and achievements and on potential financial risks, both for the
bank’s depositors and for the stability of the whole banking system,
that may arise once the ruling of the District Administrative Court of
Kyiv comes into force. In addition, the NBU Governor announced the intentions
of the NBU Board to take certain legal actions (to apply to the Ministry of
Justice of Ukraine and the Supreme Council of Justice and to file an appeal)
seeking a revision of the said court ruling and to prevent the state from being
stripped of its ownership of PrivatBank.

2.Does the text of the NBU
Governor’s speech contain any calls to disregard the court rulings?

According to the
forensic expert, YakivSmolii
made no statements that could qualify as calls to disregard the ruling of the
District Administrative Court of Kyiv dated 18 April 2019, which declared the
nationalization of PrivatBank unlawful.

3.Does the text of the NBU
Governor’s speech contain any signs, calls, or statements that can qualify as
the influence on the court and judges or contempt of the court and judges?

The examination
has found that Mr. Smolii’s speech contained no
signs, calls, or statements that may qualify as the influence on, or contempt
of, the court and judges.

On
24 May, the NBU filed appeals against two rulings that the District Administrative Court of Kyiv made on
18 April 2019. In lawsuit No. 826/7432/17, filed by IhorKolomoiskyi, the court ruled that the government’s
bailout of the then insolvent CB PrivatBank PJSC was
unlawful. In lawsuit No. 826/13813/17, filed by PrivatBank’s
former shareholder, Cyprus-based Triantal Investments
Ltd., the court overruled the NBU commission’s decision that identified the
list of PrivatBank’s related parties. The
NBU will continue to prove the legitimacy of its actions. Such court rulings
pose a threat to Ukraine’s financial stability, the NBU believes.

For
more on the threats to the NBU’s independence, please visit the
special webpage titled NonPrivate Storm (available in
Ukrainian): https://storm.bank.gov.ua/

For
reference

The Ukrainian
Center for Forensic Examination conducts forensic examinations, draws up expert
opinions, appraises property and property rights, and consults on expert
matters. The center’s forensic experts are certified by the
Ministry of Justice of Ukraine and listed in the Certified Experts Register.